Addison Advisors LLC Sells 2,121 Shares of Apple Inc. (NASDAQ:AAPL)

Addison Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,604 shares of the iPhone maker’s stock after selling 2,121 shares during the period. Apple makes up approximately 1.7% of Addison Advisors LLC’s holdings, making the stock its 12th biggest holding. Addison Advisors LLC’s holdings in Apple were worth $6,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. increased its stake in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its holdings in Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares in the last quarter. Verus Financial Partners Inc. grew its holdings in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory increased its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the period. Finally, Core Wealth Management Inc. lifted its holdings in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $229.98 on Friday. The business has a 50 day moving average of $240.95 and a 200-day moving average of $230.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a market capitalization of $3.48 trillion, a P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. On average, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Wedbush lifted their price target on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Citigroup boosted their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.85.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.